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Hyundai and Kia invest in Aurora

Aurora’s existing partner Hyundai Motor Group, which includes Hyundai Motor Company and Kia Motors Corporation, has invested in Aurora as part of a Series B financing round. The company has raised more than $600 million as part of its Series B financing.

Aurora has worked with Hyundai and Kia over the past year to develop the Aurora Driver’s integration into Hyundai’s flagship fuel-cell vehicle NEXO. Continuing the partnership, Aurora will expand research and development of a self-driving platform for a range of Hyundai and Kia’s models.

“We are pleased with the progress made with the Hyundai and Kia teams,” said Sterling Anderson, Co-founder and Chief Product Officer of Aurora. “Together with all of our ecosystem partners, we are seeing the convergence of a powerful platform that will deliver the benefits of self-driving technology safely, quickly, and broadly.”

“Aurora is the leading innovator of self-driving technology, and we look forward to building a stronger collaborative partnership with them,” said Youngcho Chi, President and Chief Innovation Officer at Hyundai Motor Group. “Working closely with industry leaders around the world will help us develop fully self-driving vehicles that are safe and innovative for our customers.”

Aurora's self-driving system, the Aurora Driver, consists of the LiDAR, radar, and cameras that perceive the world around it and the computer that runs the software modules.

Hyundai Motor Group’s future mobility plans include commercialization of Level 4 autonomous vehicles by 2021 with the pilot launch of a fleet of autonomous robo-taxis in smart cities.

Products

The global automotive industry – worth $3.5 trillion in annual revenues – faces four concurrent disruptive threats: the connected car, the electric vehicle, autonomous driving technology and the concept of transport-as-a-service. Each threat is potentially existential to legacy carmakers who operate in a low growth, low margin sector that rattles with over capacity, and which is seeing its supply lines reset by cumulative advances in enabling technologies typically deployed by Tier-1 automobile sub-system suppliers. This report focuses on autonomous driving technology.

This issue focuses on the end-to-end transformation of dSPACE, external HMI for pedestrian safety, the latest in over-the-air software updates, Urban Air Mobility commercialization efforts, and our special feature on new mobility and the COVID-19 pandemic.